What’s the Best Place to Get a Car Loan?
What’s the best place to get auto financing—a bank or a dealership? While both options have their advantages, car loan shopping through a dealership is usually a bit easier because they have relationships with various lenders in the Eatonton area and do the work for you. Of course, the best place to get auto financing ultimately depends on your preferences and financial background. For example, a dealership may also be the best place to get a car loan if you have poor credit.
Use our guide below to determine where to get a car loan based on your unique situation. Our finance team is here if you have any questions, so contact us online or at 478-387-3188 today.
Before You Start Car Loan Shopping…
If you’re not sure where to get a car loan, take a moment to learn more about your options. Generally, auto financing opportunities fall into two categories:
- Financing “in-house” through your dealership
- Financing with a bank or Monticello-area credit union
Neither is objectively the best place to get a car loan, but one may offer more benefits for a buyer in your situation.
Benefits of Financing With Your Dealership
- Your dealership has relationships with a variety of lenders in the Gray area. They will apply for loans on your behalf and help you secure the best rates available.
- Car loan shopping is easier with your dealership! Rather than applying to multiple lenders yourself, you’ll only need to fill out a single application form.
- If your credit score isn’t as high as you’d like it to be, a dealership is probably the best place to get auto financing. Working with your dealership can make it easier to get approved.
- Most dealerships offer special incentives and finance deals.
- Your dealership may be open to negotiating your down payment amount.
Benefits of Car Loans From Your Bank
- You may be eligible for financial benefits if you have a longstanding relationship with your bank or credit union
- Many banks offer set interest rates for auto financing
- It may be possible to set a flexible payment schedule
Start Car Loan Shopping at Five Star Toyota of Milledgeville
Still wondering where to get a car loan in Milledgeville? At Five Star Toyota of Milledgeville, we have a team of well-connected financiers to make car loan shopping simple and painless! Explore our new vehicle inventory and apply for financing today. While you’re here, check out more car-buying tips from our experts.
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